1987-12-07 Workshop Meeting and Called Regular Meeting

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"'. ( er Industrial District Agreement - 9 available under the Texas General Arbitration Act (Articles 224-238, Vernon's Annotated Revised Civil Statutes of Texas). Costs of the arbi tration shalJ be c;hc1red equally by the Com- pany and the City, provided that each party shall bear its own attorneys fees. ( C) . Should the prov is ions of Art icle II (B) of th is 1\greemen t .;~ become impossible of enforcement because of (1) the invalidity or unenforceabili ty of the Texas Property Code (S. B. 621" ~cts of the 65th Texas Legisl~ture, Regular Session, 1979), or any relevant ,. ... provision-tnereof, 'or (2) because' of any. material delay or failure to act on the part of the Harris County Appraisal District, then and in' '-any of :'su~h- eve"nts ~ all h paym'e'nts ... 'under this Agreement shall be governed by the provisions of Article II(A) hereof; anything to the contrary in this Agreement notwithstanding. VI. City shall be entitled to a tax lien on Company's above-describec property, all improvements thereon, and all tang ible personal prop- erty thereon, in the event of defaul t in pay:nent of II in lieu of taxes" payments hereunder, \",h ich shall accrue penal ty and interes t in 1 ike manner as del inquen t taxes, and \.Jh ich s.hall be collect iblE by City in the same manner as provided by law for delinquent taxes. VII. Company agrees to provide to City at Company1s expense, a surve' . plat and field note description of the land ,and improvements -whicl Comp~ny pet~tions to be annexed in accordance with the provisions OJ l\l."ticle II above. Such annexation tract shall be contiguous to i point on the existing corporate limits of La Porte. In the event ot failure of Conpany to file either such petition, or such description, ., City shall h~ve the right by notice in writing to Company to cance, and tcrminQte this Agreement.